Abstract: The dispenser comprises a plurality of delivery stations (20a-20b, 30) for the constituent substances of the drink, a delivery station (40) for empty cups, a location (10) for release of the drink to the user, and an automatic control unit which automatically controls the succession of operations involved in emitting the substances and cups. A cup handling device (60) is provided, comprising a gripping member (61) for gripping a cup (8), and means for moving said gripping member (61) in such a manner as to bring it, by a succession of movements, to the exit points of the delivery stations (20a-20b, 30, 40, 50); said handling device (60) is controlled by the automatic control unit in such a manner as to firstly bring the gripping member (61) to the station (40), then bring the gripped cup under the exit points of the other delivery stations (20a-20b, 30, 50), and finally bring the cup carrying the drink into the location (10) for its release to the user.